An encrypted tweet by Twitter personality @cobie sparked a market frenzy on Monday, as the post suggested that Binance’s CEO was facing an Interpol Red Notice. The tweet, which was not intended for public eyes, was deciphered by someone, causing the rumour to spread like wildfire. As a result, Binance’s exchange token and bitcoin plummeted. However, the tweet turned out to be just a rumour.
@cobie’s tweet contained an encrypted message that read, “Interpol Red Notice for CZ,” referring to Binance’s CEO, Changpeng Zhao. The tweet was private, and the message was a garble of letters and numbers encrypted using the SHA-256 hash function, similar to the cryptography that secures many cryptocurrencies.
After someone cracked the code, the rumour that CZ might face an international law enforcement request to detain him spread like wildfire. This was especially plausible given that U.S. regulators had just sued Binance and its CEO for “willful evasion” of U.S. laws. As a result, Binance’s exchange token and bitcoin experienced a rapid decline.
Binance and Interpol have yet to comment on the matter. However, Binance’s Chief Strategy Officer, Patrick Hillmann, tweeted that the rumour was either “bullish-t” or that a law enforcement agent was illegally leaking elements of a case file.
Later on Monday, @cobie clarified that the tweet was posted after hearing a rumour. Essentially, @cobie created a record of something they could reveal later if it were true. The encrypted message was supposed to be unreadable until after the secret was revealed. However, the rumour spread without context, and the seed was leaked, causing a stir.
@cobie apologized for the confusion and promised to be more cautious about what they post on Twitter. They added that since tweeting often leads to bad things, they will probably tweet less in the future.
In conclusion, the rumour that Binance’s CEO was facing an Interpol Red Notice was false. The encrypted tweet by @cobie was deciphered, causing the story to spread and Binance’s exchange token and bitcoin to experience a rapid decline. While the situation caused confusion and panic in the market, it serves as a reminder to be cautious about rumours and to verify sources before taking action.
This incident highlights the power of social media and the impact it can have on the financial markets. Social media platforms have become an integral part of the trading world in recent years. Investors rely on Twitter and other platforms to stay informed about the latest market news and trends.
However, as demonstrated by the @cobie incident, social media can also be a source of misinformation and rumours, leading to market volatility and financial losses. It is essential to exercise caution and scepticism when reading social media news and verify sources before taking action.
As the cryptocurrency market continues to grow and evolve, it is essential to remain vigilant about the latest trends and developments. While social media can be a valuable tool for staying up-to-date on the latest news, exercising caution and scepticism and verifying sources before taking action are necessary. Additionally, it is critical to prioritize cybersecurity and encryption to protect digital assets and maintain privacy in the digital age.
In conclusion, the @cobie incident is a cautionary tale about the power of social media and the importance of cybersecurity and encryption in the cryptocurrency world.